Flexible Business Loans

A flexible business loan can give businesses the financial freedom they need to remain competitive and profitable in a dynamic marketplace. It offers the much-needed capital to fund special projects, reinvest in the company or access new technology or creative ideas to keep businesses competitive.

With terms that can be tailored to the customer’s individual needs, they have greater control over their finances while enjoying competitive rates and being able to borrow from more sources than ever before.

A flexible business loan could be exactly what you need to turn your project into reality and get your business back on track.

What is a flexible business loan

A flexible business loan is the ideal solution for companies needing short-term or long-term working capital. These loans are designed to provide access to financing with increased flexibility compared to traditional bank loans and to meet the diverse needs of businesses. The benefits of a flexible business loan include favourable terms and repayment structures, quick processing times, competitive interest rates, and a lack of cumbersome paperwork.

Ultimately, this form of financing empowers businesses large and small with the funds they need to unlock their potential and take advantage of new opportunities.

How do flexible business loans work?

Flexible business loans work by providing businesses with a steady stream of capital. They are generally easier to qualify for than traditional bank loans since they take into account the current state of a business and its potential future success. Businesses can use the flexible loan to fund expenses such as equipment purchases, personnel costs, taxes, inventory, and other operating costs.

The repayment terms for flexible loans are determined up front and can be tailored according to an individual company’s needs. This form of financing offers entrepreneurs full control of repayment process and thus encourages sustainable growth as repayments are workable within the context of their present cash flow.

How are flexible business loans paid back?

A flexible small business loan gives businesses the opportunity to secure the capital they need. A straightforward repayment structure allows for predictability, providing a clear timeline as to when balances should be settled. One of the greatest benefits of this type of loan is that a pre-agreed interest rate ensures that borrowers are aware of the cost upfront. Subsequently, repayment is made over the course of the loan term until it is repaid in full.

Unfortunately, higher interest rates generally apply to unsecured loans; hence why it pays to research alternative funding options to ensure that you receive the best product for your business.

What are the advantages of flexible business loans?

Flexible business finance is an increasingly sought after option, providing time-sensitive funding solutions without the need to offer physical assets as security. For example, obtaining an unsecured business loan can help your business access timely funding without having to provide collateral. With quick and convenient financing solutions available, businesses no longer have to wait around for weeks or months to receive much needed funds.

Additionally, by issuing hassle-free loans with incredibly low or non-existent early repayment fees, flexible financing can offer businesses extreme financial freedom. All in all, flexible business finance provides companies of all shapes and sizes the opportunity to make faster decisions regarding their future endeavors.

The pros of flexible business loans include:

• Borrow £5,000 up to £300,000 +
• Does not require any asset security
• Flexible repayment terms from 1 month to 3 years +
• Minimal paperwork required
• Approval in 24 hrs, funds released quickly
• Short to medium term lending solution
• Keep your company assets safe

Flexible business loans offer great advantages for businesses operating in the UK

businesses that operate in the UK can take advantage of flexible business loans regardless if they are a well-established businesses or relatively new ventures both can enjoy a number of significant benefits.

No assets required

Businesses facing potential project delays due to lack of funding can take advantage of flexible business loans as a highly accessible source of financial support with no assets required as security. Flexible business loans offer the added benefit of faster funds availability compared to traditional business loan options, often depositing the requested amount in just a few days. Business owners seeking funds to cover project costs should consider taking out a flexible business loan for the most efficient source of funding and speedy turnaround.

Use for any purpose

If you’re looking to grow your business, this type of loan offers a wonderful opportunity for doing so. Whether your needs are simple and one-time – such as investing in equipment or expanding your product range – or more long-term, like finding new markets or providing training opportunities for employees, this loan can cover them all. And best of all, it doesn’t limit you to one specific purpose. Use it however your enterprise needs and unlock the potential of any business project you might have.

Faster approval and funding

With a flexible business loan, you can gain your additional funds faster than with a traditional loan, as the application process does not require any asset or collateral for security. Depending on your requirements and circumstances, you could apply for a loan of up to £300,000 or more and potentially be approved inside hours instead of days.

Faster approval and funding means that businesses can access larger capital without needing to wait for long periods of time to get their much needed funds. With flexibility and convenience combined in one loan product, it’s a great way to take advantage of the access to financial resources you require with minimal hassle.

Flexible repayment terms

Our alternative business funding providers offer you secure and reliable access to the capital you need for your business. Flexible repayment terms allow you to customise your scheduled payments over the course of 1 month – 3 years with no additional fees or hidden costs. At the time of signing, your interest rate will be agreed upfront so that you are well prepared in terms of budgeting for the capital repayment.

Whether you are looking to cover short-term needs or raise long-term funds, our services can provide a fast and secure financial arrangement that is tailored to meet the needs of your business.

Does my business qualify for a flexible business loan?

For businesses seeking a flexible business loan in the UK, there are criteria to qualify, including having been trading for at least four months and having a minimum annual turnover of £10,000. Sole traders have the additional option of an unsecured loan option. However, it is worth noting that a good personal and business credit history may be needed in order to qualify for the loan.

This is therefore something all businesses should consider when applying for their loan.

• Been in operation for at least 4 months
• Have a UK bank account
• Limited company, limited liability partnership (LLP) or sole traders registered in the UK
• Annual turnover of at least £100,000

When considering financing options for your business, you should be aware that while a personal guarantee may be required, it could help significantly increase the funding available to you. Furthermore, if your circumstances change and repayment of the loan becomes difficult, the personal guarantor may still be liable under the terms of agreement.

However, even if this option is not viable to you, we can offer advice on alternative finance options and help you find one that is ideally suited for your needs. We provide an extensive portfolio of business finance solutions for entrepreneurs looking to fund their pursuits.

Will I need to provide a form of security or personal guarantee?

A personal guarantee (PG) is a legally binding agreement made by the business owner or director, who agrees to become personally liable for any liabilities that their business may owe but cannot repay. In this scenario, the owner or director assumes the role of a ‘guarantor’ and the security may or may not be supported by legal charges imposed on the guarantor’s property.

Different lenders can impose different terms when it comes to security and personal guarantees so it is important to discuss each situation with your lender before signing any agreements. Taking time to thoroughly understand all conditions can help avoid unnecessary stress when repaying your loan.

Limited companies and LLP’s – are a popular choice for business owners, offering many of the same benefits as Limited Companies but with greater flexibility. However, lenders and other stakeholders may expect an extra layer of protection in the form of a Personal Guarantee (PG). Those stakeholders who have at least a 20-25% share in the Limited Business might be asked to provide this level of security. It is important to bear this in mind when forming an LLP, and factor it into any plans that require external funding. Failing to provide improved security when requested could result in refused applications or limitations on working capital.

Sole traders and partnerships – with unlimited liability are liable in a personal capacity, meaning they bear responsibility for their business’s obligations. As such, the funding available to a business owner in this situation will be determined largely by the individual’s personal credit history. Careful management must be taken when managing finances to ensure that credit-worthiness remains intact, as it could prove decisive when seeking further funding. Sole traders and partners must keep on top of their credit score in order to enjoy peace of mind when running their respective businesses.

What are the documents required for an flexible business loan?

When considering a flexible business loan in the UK, there are documents that you should be prepared to provide. Depending on the lender, these documents could include your company documents such as your registration number and documents to show that that you can repay the loan such as a personal guarantee or financial documents from the past three years. It is important to be aware of what documents any prospective lender will require prior to applying in order to make certain of a successful application.

• Proof of identity and address
• Business verification documents
• Supporting documents (business bank statements / merchant statements)
• Personal guarantee (if required for your unsecured loan agreement)

Can I get an flexible business loan with bad or poor credit?

Often, flexible business loans with bad or poor credit history are tricky to come by – especially on the high street. When applying for a loan with our panel of lenders, a soft and/or hard credit check will be performed for both fraud and affordability purposes. This should give you peace of mind that the lender’s process is always in your best interests .

We understand that credit checks can be off-putting when having a substandard credit history, so it’s important to note we don’t work with any lenders that process applications without performing any credit checks. Our panel of lenders offer alternative business funding options, giving many businesses the lifeline they need when other types of funding have failed them.

Even if your credit history contains a few blemishes, it should not stop you from looking for flexible business financing. Working to increase your overall credit score is certainly worthwhile, but don’t let it put you off applying for an online business loan. We have helped many businesses secure unsecured loans even when their credit profile is less than perfect – it’s all about looking at the application as a whole and how suitable the loan is for each individual enterprise.

So, don’t let your recent past stop you from assessing what flexible business funding might be available if that’s what best suits your needs.

Can I get an unsecured business loan for my startup business?

Lucky for you, flexible business loans for startup businesses are available. Whether you’re just getting started or have already been trading for up to 24 months there is a way to finance your business without having to use personal assets, such as your home, as collateral. We get it – putting up company assets can be risky when you’re in the early stages of setting up your business, so we offer flexible alternatives.

Many startups will find it difficult to secure flexible business loans from traditional lenders due to their lack of trading history. But if a flexible loan is necessary for the success of your UK startup, then it is possible to arrange unsecured funding at slightly higher interest rates. The potential risk to the lender must be factored in though – many startups can be volatile and carry greater risks – so it’s important to weigh up the options carefully before making a decision.

Of course, know that there may be slightly higher interest rates on these flexible business loans, but the upside of not risking your business or personal property makes it a worthwhile option.

How long does it take for flexible business loans to be approved?

Obtaining a flexible business loan is often much simpler than secured loans, with approvals generally taking only a few days and sometimes even same day funds. This time frame can be significantly shorter than secured loans, which require an independent valuation of the asset the borrower puts forward as security – this can add time to the process.

Therefore, when time is of the essence, a speedy flexible business loan might be the most suitable option – offering unparalleled convenience and swift funding.

Are flexible business loan lenders regulated by the FCA?

We understand that flexible business loan products may fall outside the regulatory scope of the FCA. This is why we only partner with professional flexible business loan lenders who observe best practices and are regulated by the FCA, or are members of trade associations such as the NACFB.

All of our partners abide by industry standards to provide our customers with safe and secure financing solutions.

Apply for a flexible business loan

Applying for a flexible business loan is one of the best ways to get the capital needed to succeed and grow your business. With a flexible loan, you can access the funds easily at any time and use it as your business needs require. Flexible loans allow for swift repayment periods and low interest rates, helping to reduce financial strain in times of uncertainty.

With an application process that is straightforward and easy to understand, applying for a flexible business loan is one of the most advantageous options when seeking additional capital for your business.

Step 1: Click the ” get a quick quotation” button. You will first be asked some basic details to verify your business. The following information is need:

• The amount you want to borrow
• Average monthly card sales
• Name of your business
• Company number if registered in England and Wales

Step 2: Your application will then be directed further down the page, where you will be asked to fill in your personal contact details, including:

• Title, first name and surname
• Position in the business
• Email and telephone number

Step 3: After you accept the terms and conditions you will be able to click ‘get a quick quote’. From here your application will be processed and reviewed by our approved business funding lender and a reference number issued.

Step 4: Once the application has been reviewed by our trusted lender, a dedicated account manager will be in touch to discuss the terms of your loan or advance agreement. At this point you are welcome to ask the lender anything you are unsure or have concerns about, including repayment plans, to make sure there are no nasty surprises along the way.

Step 6: After you have carefully read through all the terms of agreement, you will need to sign all of the relevant documentation and return it to the lender.

Step 7: You will then be able to access the money from your bank account within 7 working days

F.A.Q’s

Is a Flexible Business Loan Unsecured?

Yes, this type of funding does not require a charge on your home or businesses property, A personal guarantee maybe required.

How much can we borrow?

The funding amount that you can borrow at anyone times is between £5,000 - £200,000.

What time scale is needed to arrange a business loan?

This depends on how quickly you can provide the information, the norm for most business is 7 days.